Dear Mr. Tan,
My maid was replacing the bulb on my expensive lamp fixture. The ladder slipped. She fell and pulled the fixture down with her. Is the loss of this fixture covered under a home insurance policy? I am insured for the building and the content as well.
REPLY
I checked with an insurance claim expert. Here is his reply:
quote
The lamp fixture falls under the scope of "contents". Inorder for the policy to respond, the damage or loss must be within the insured perils. Home insurance is a fire policy that have been extended to cover floods, water damage (e.g. overflowing sewerage pipes), damage by lighning. It does not cover accidental damage to the lamp fixture under the circumstances described by you.
unquote
Thursday, May 1, 2008
Transfer of shares to family members
After my retirement from NTUC Income, I decided to invest most of my savings in shares on the Singapore Exchange. The shares are kept in CDP.
I had considered the option of investing the additional savings in the Combined Fund in NTUC Income, but I find the upfront spread of 3.5% to be too high.
I have now decided to transfer some of my shares to my wife and children. I asked them to open a stockbroking and CDP account. My stockbroker said that I could approach CDP to make the transfer to family members at quite modest cost.
It is better to make the transfer now, so that my family members are able to learn about investing in shares. They can collect the annual dividend directly. Later, they can also learn about investing in low cost unit trusts. They should not have to pay high charges for investment-linked funds marketed by life insurance companies.
This is also a good way of distributing some of my assets now (instead of waiting until I leave this world! )
I had considered the option of investing the additional savings in the Combined Fund in NTUC Income, but I find the upfront spread of 3.5% to be too high.
I have now decided to transfer some of my shares to my wife and children. I asked them to open a stockbroking and CDP account. My stockbroker said that I could approach CDP to make the transfer to family members at quite modest cost.
It is better to make the transfer now, so that my family members are able to learn about investing in shares. They can collect the annual dividend directly. Later, they can also learn about investing in low cost unit trusts. They should not have to pay high charges for investment-linked funds marketed by life insurance companies.
This is also a good way of distributing some of my assets now (instead of waiting until I leave this world! )
Cooperative principles and values
Dear Mr. Tan Kin Lian,
I have been a strong supporter of Income for many years. My family has several policies with Income. I am also a member of NTUC union.
You said that the bonus cut by Income is unilateral and arbitrary. Is this the proper behaviour for a cooperative soceity. I thought that the coop acts in an open, transparent manner and look after the interest of the policyholders. This behaviour is as bad as the commercial companies, maybe even worse. Is there any body in the board and management of Income that understand coop values? What about the NTUC?
REPLY
As you are a union member, you can bring this matter up with the leaders of NTUC. They have been promoting cooperative principles and values and wish to see the NTUC cooperatives behave differently from commercial companies. Maybe, the NTUC leaders can intervene to rectify this matter.
In my frank opinion, the cut in bonus is to the detriment of the policyholders. It will destroy the trust of policyholders in NTUC Income and in the NTUC as a whole (as many union members are affected).
I have been a strong supporter of Income for many years. My family has several policies with Income. I am also a member of NTUC union.
You said that the bonus cut by Income is unilateral and arbitrary. Is this the proper behaviour for a cooperative soceity. I thought that the coop acts in an open, transparent manner and look after the interest of the policyholders. This behaviour is as bad as the commercial companies, maybe even worse. Is there any body in the board and management of Income that understand coop values? What about the NTUC?
REPLY
As you are a union member, you can bring this matter up with the leaders of NTUC. They have been promoting cooperative principles and values and wish to see the NTUC cooperatives behave differently from commercial companies. Maybe, the NTUC leaders can intervene to rectify this matter.
In my frank opinion, the cut in bonus is to the detriment of the policyholders. It will destroy the trust of policyholders in NTUC Income and in the NTUC as a whole (as many union members are affected).
Thai workers protest for higher minimum wage
Thousands of workers waving flags and banners gathered in the Thai capital on Labour Day to call on the government to raise the minimum wage and improve their welfare.
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